Turkey will not ban the use of cryptocurrencies

The Governor of the Central Bank of Turkey, Şahap Kavacıoğlu, indicated that said institution does not consider applying any prohibition against cryptocurrencies.

The plan for the coming weeks consists on applying a series of rules that will seek to regulate digital assets within the region.

Kavacıoğlu assured that “nothing can be fixed by banning cryptocurrencies and we have no intention of doing so.”

It should be noted that the statements of the governor of the country’s central bank come just a week before the ban on using cryptocurrencies for payments takes effect in Turkey.

Meanwhile, Thodex and Vebitcoin, two cryptocurrency exchanges operating in the country, have recently been known to cease operations without prior notice, resulting in their users losing access to their funds.

K. Tovar

Source: iHodl